Thursday 17 April 2014

DBS to pay $7.2bn for Indonesia's bank

DBS Group Holdings, Southeast Asia's biggest bank, has agreed to pay $7.24 billion for Indonesia's Bank Danamon, offering a 52 percent premium for a middle-ranking lender with high funding costs, raising questions on the price. The takeove


Islamic Bank of Asia focus on Gulf investors

The Islamic Bank of Asia, which is backed by Southeast Asia's top bank DBS, will focus on courting Gulf wealth and growing Islamic bonds, private equity and REIT deals to drive its business, its chief executive said. The lender has str


DBS makes partial retreat from Islamic banking

DBS Group, Southeast Asia's largest lender, is shrinking its Singapore-based Islamic unit in yet another sign that the city-state's efforts to promote sharia banking is struggling. Islamic Bank of Asia (IB Asia), in which DBS has a just ov


Emaar hires DBS to sell Singapore's RSH

Emaar Properties, leading Dubai-based developer, has hired DBS, a leading bank specialising in Asia, to advise on the sale of Singapore-listed sports retailer RSH Holdings. RSH Holdings is currently valued at $164 million, two sources told


DBS Islamic bank chief quits

Islamic Bank of Asia (IBA), a unit of Southeast Asia's largest bank DBS Group, on Thursday said its chief executive has resigned. The DBS group has a total exposure of about $1.28 billion to Dubai. 'We confirm that Vince Cook, CEO


IB Asia signs 20 transactions in first year

The Islamic Bank of Asia (IB Asia) has signed over 20 significant cross-border capital transactions worth more than $0.5 billion in its first year of business.


India rupee climbs

The Indian rupee climbed to its strongest finish in over a week as investors poured funds into the record-setting stock market, brushing off concerns about new investment restrictions on unregistered foreigners. The partially convertible r

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